African businesses and power producers need to keep up with the ever changing energy landscape to ensure that the industry reaches its full potential.
Bhavtik Vallabhjee, head of power, utilities and infrastructure – advisory coverage at Barclays Africa identifies five key trends that will impact on the way live and work:
1. Coal power plants are becoming more difficult to finance as there is a greater move towards investment in low-carbon technologies and green energy
More countries and companies worldwide are focusing on going green and investing in low-carbon technologies.
Christopher Bredholt, a Moody’s vice-president, senior analyst and the report’s author said, "The South African renewable energy market has grown rapidly over the last five years or so, and there is rising demand for renewables debt". Financing coal power plants will become increasingly difficult as low-carbon technologies and green energy continue to become more usable.
2. The growing appetite for renewable energy in emerging markets
The African countries have taken great shift from coal to other sources such gas to fuel power plants.
Connecting renewable energy onto the grid is becoming more affordable as Africa is blessed with abundant natural resources such as great solar irradiation and wind resources.
3. The rise of battery storage
In the past five years, there has been a massive investment in battery storage research and development by leading global companies such as Samsung, Tesla and Total - and is likely to continue to gain momentum when coupled with solar photovoltaic plants for storage of energy.
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Energy trends that can impact the way we work and live